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andrew-mc [135]
2 years ago
3

Perry earns 5 percent simple interest annually on his savings account. How much interest will Perry earn each month on $650? A.

$2.70 B. $32.50 C. $682.50
Mathematics
2 answers:
damaskus [11]2 years ago
8 0
B. 32.50
650 × .05 = 32.50 so perry will earn 32.50 of interest each month
masha68 [24]2 years ago
4 0

Answer:

Option (a) is correct.

The interest that Perry will earn each month on $650 is $ 2.70

Step-by-step explanation:

Given : Perry earns 5 percent simple interest annually on his savings account.

We have to determine the interest that  Perry will earn each month on $650.

Since, Given Perry rate of interest is 5%

So , her monthly rate of interest will be \frac{5}{1200}

Using Formula for Simple interest

S.I = P\times r\times t

Thus, for principal $ 650 at rate of interest \frac{5}{1200} for one month .

Perry interest will be,

S.I.=650\cdot\frac{5}{1200}\cdot1

Simplify, we get ,

Simple interest = $ 2.70

Thus, The interest that Perry will earn each month on $650 is $ 2.70

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